Southern California Edison Strengthens Support for Impacted Altadena Community Members

Key Terms

net damages financial

The amount a company must actually pay after a legal judgment or settlement once any offsets—such as insurance reimbursements, recoveries, shared fault, or prior payments—have been subtracted. For investors, net damages show the real cash or balance-sheet hit from a legal dispute; like the final bill after discounts and credits, they reveal the true cost of litigation risk and help assess potential impact on earnings and capital.

fair rental value financial

The fair rental value is the estimated market rent a property would command under normal conditions between a willing landlord and a willing tenant, neither under pressure to act. It matters to investors because it helps predict income, set lease terms, value properties for buying or selling, and calculate returns—like checking what you could reasonably charge to lend out a useful asset so you know if it’s earning or losing money.

settlement offers financial

A settlement offer is a proposal to resolve a legal dispute or claim without going to trial, typically involving a payment, change in behavior, or other agreed terms. For investors it matters because accepting or rejecting settlement offers can change a company’s expected costs, cash on hand, legal exposure and public reputation—similar to choosing a quick, predictable repair instead of risking a long, uncertain overhaul in a car problem.

Wildfire Recovery Compensation Program now provides increased compensation for legal expenses, enhanced support for tenants.

ROSEMEAD, Calif.--(BUSINESS WIRE)-- Today, Southern California Edison announced enhancements to bring even more relief to eligible community members through its voluntary Wildfire Recovery Compensation Program. Effective immediately and applied retroactively, these updates strengthen support for eligible individuals and businesses impacted by the Eaton Fire by increasing coverage for legal expenses and enhancing support for displaced renters.

“We remain committed to helping the Altadena community recover by making sure that eligible individuals and businesses get fair resolutions and fast compensation for impacts from the Eaton Fire,” said Pedro J. Pizarro, president and CEO of Edison International, SCE’s parent company. “By strengthening support and reducing barriers for participation, the program now gives community members greater confidence and clearer pathways to relief.”

As part of the update to the program’s protocol:

• Claimants represented by counsel at the time they submit a claim will now be compensated for 20% of net damages in a settlement offer to apply toward legal expenses.
• Settlement offers for tenants will now cover up to three months of housing assistance at the higher of actual pre-fire rental rates or monthly fair rental value, as defined in the protocol.

Increased Compensation for Legal Expenses

Thousands of individuals and businesses obtained legal counsel before SCE’s Wildfire Recovery Compensation Program was established. The program now allows claimants to preserve more of their compensation for rebuilding and recovery by more fully covering their legal expenses, increasing attorney fee compensation to 20% of net damages.

While the streamlined application allows for participation without an attorney, to date, 32% of claims have been submitted by an attorney or authorized representative.

Enhanced Support for Tenants

The program has been refined to better reflect the housing challenges renters may face, with enhancements designed to help displaced renters bridge the gap and manage transition costs.

Settlement offers for tenants now cover up to three months of housing assistance at the higher of:

• Actual pre-fire rent; or,
• Monthly fair rental value, as defined in the protocol.

Prompt and Certain Relief

The Wildfire Recovery Compensation Program remains completely voluntary and available through Nov. 30, 2026. Traditional litigation can be lengthy, expensive and uncertain. The program provides an alternative path to prompt and certain compensation.

Submitting a claim, on average, takes just over 100 minutes. Settlement offers are delivered within 90 days of a fully documented, substantially complete claim. Payments are made within 30 days after all conditions in the settlement agreement have been satisfied. Many offers and payments are being processed in a fraction of that time.

As of Feb. 18, 2026:

• 2,405 claims submitted, consisting of nearly 7,000 individuals
• 593 offers extended to more than 1,700 individuals, totaling more than $183 million
• 86 claims payments already made or in process to individuals, totaling $18 million

Impacted participants of the Wildfire Recovery Compensation Program will receive information by the end of this week about the updates and next steps. This includes outreach for claims under review, offers extended, offers accepted and payments made, as the updates to the program are effective immediately and will be applied retroactively. Updated sample offers and frequently asked questions are available.

Get Started and One-on-One Assistance

• To submit a claim and access detailed guidance in English and Spanish, visit the Wildfire Recovery Compensation Program web page.
• For one-on-one assistance in multiple languages, call 888-912-8528. In-person appointments are also available to guide claimants through the requirements and help them get started.
• For firms representing multiple eligible claimants, a bulk intake process is available. Email the team to get started.

About Southern California Edison

An Edison International (NYSE: EIX) company, Southern California Edison is one of the nation’s largest electric utilities, serving a population of approximately 15 million via 5 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260218397135/en/

Media Relations: 626-302-2255

news@sce.com

Investor Relations: Sam Ramraj, 626-302-2540

Feinberg/Biros: Amy Weiss, 202-203-0448

amy@weisspublicaffairs.com

Source: Southern California Edison